The Great Seduction

Being in the debt industry I saw first hand the machines that are necessary to move around huge volumes of money spent on credit cards. It always amazed me to see people who were making well into the six figures writing off bad debt because they couldn't keep up with it. While there are very good ways to game the system, most people were at a loss to explain where all the money they spent went.

"Benjamin Franklin spread a practical gospel that emphasized hard work, temperance and frugality. Millions of parents, preachers, newspaper editors and teachers expounded the message. The result was quite remarkable.

The agents of destruction are many. State governments have played a role. They aggressively hawk their lottery products, which some people call a tax on stupidity. Twenty percent of Americans are frequent players, spending about $60 billion a year. The spending is starkly regressive. A household with income under $13,000 spends, on average, $645 a year on lottery tickets, about 9 percent of all income.

Congress and the White House have played a role. The nation's leaders have always had an incentive to shove costs for current promises onto the backs of future generations. It's only now become respectable to do so."

The most important role though, was played by you and I. Remember what you are exchanging when you buy a Starbucks or get that new car with the bells and whistles - you are exchanging your TIME for stuff. You are giving away your saved up existence - the only true thing that you own - in exchange for things that, most of the time, we truly don't need - we just want.

Maybe we should re-examine ourselves. Or maybe our consumer culture is correct...I don't know.

Read the opinion from those who are paid for writing opinions.


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Anyone can be struck by lightning,
But not everyone can conduct electricity!